"UBS ETF (IE) CMCI Composite SF UCITS ETF (USD) A-acc" is an exchange-traded investment fund (ETF). It refers to the UBS Bloomberg Constant Maturity Commodity Index. This index reflects the development of world wide commodity futures . The ETF replicates its index using synthetic replication, so the index performance is realized using a swap contract. The ETF's earnings are automatically reinvested (accumulated). The fund company UBS ETF claims a total expense ratio (TER) of 0.34% per year. The yearly average divergence from the index performance (Tracking Difference) since 2011 was 0.99% per year. Therefore, the ETF was significantly more expensive than the TER suggests.